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RPM International Q1 2016 net sales $1.24 billion

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Staff writer ▼ | October 8, 2015
RPM International said the continuing strength of the U.S. dollar against most foreign currencies, coupled with rainy weather in North America, dampened performance for the fiscal 2016 first quarter ended August 31, 2015.
RPM International
RPM International   Q1 2016 net income was up 0.7% to $99.8 million
Unseasonably wet weather during June and early July had a particularly negative impact on the company's consumer segment. The company anticipates a return to solid growth in the consumer segment for the balance of the year.

Additionally, during the first quarter of fiscal 2016, the combination of translational and transactional foreign exchange reduced earnings per diluted share by $0.08. Of note, in local currencies RPM grew at double-digit rates in nearly every region of the world.

Fiscal 2016 first-quarter net sales of $1.24 billion increased 3.2% over the $1.20 billion reported a year ago. RPM's consolidated earnings before interest and taxes (EBIT) declined 1.9% to $160.6 million from $163.7 million reported in the fiscal 2015 first quarter.

First-quarter net income was up 0.7% to $99.8 million from $99.1 million in the year-ago period, and diluted earnings per share of $0.74 were up 1.4% from $0.73 in the fiscal 2015 first quarter.